The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Istanbul-based e-tailer Modanisa saw sales soar almost 50 percent year-on-year during this year’s Ramadan and Eid al-Fitr period.
In markets where Covid-19 restrictions have been relaxed, the retailer’s sales have already doubled or tripled last year’s levels. “Our post-pandemic outlook is very positive,” said Emin Imer, Modanisa’s chief strategy and growth officer, who expects the upward trend to continue.
“Modest fashion is very much associated with life ‘outdoors’…. when the streets are full again, we expect to see even more positive sales figures.”
While Modanisa plans on investing further in key markets like the UK, where this year’s Ramadan sales were up 70 percent year-on-year, the company is working to grow its market share in Southeast Asia, with Malaysia being a major growth point.
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From Viviano Sue to Soshi Otsuki, a new generation of Tokyo-based designers are preparing to make their international breakthrough.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.